5.Where the debtor has fewer than twelve (12) creditors, how many must sign an involuntary petition?

a. one (1), assuming that the creditor's unsecured claim is at least $13,475

b. one (1), assuming that the creditor's secured claim is at least $13,475

c. three (3), assuming that the creditors' unsecured claims total at least $14,575

d. three (3), assuming that the creditors' secured claims total at least $14,575

6. An automatic stay:

a. arises only upon the filing of a voluntary petition.

b. prevents any further interest from accruing on a debtor's outstanding debts.

c. prevents creditors from taking action outside of the bankruptcy proceeding against a debtor.

d. ends if a debtor attempts to incur additional debt after a petition has been filed.

8. The status of a trustee in a bankruptcy proceeding is best described as the:

a. prosecutor of the debtor.

b. successor to the debtor.

c. defender of the debtor.

d. protector of the debtor.

9. A transfer of property by the debtor to a creditor may be set aside as a __________ transfer and the property recovered by the debtor's trustee in bankruptcy if (1) the transfer was made to pay a debt incurred at some earlier time; (2) the transfer was made when the debtor was insolvent and within ninety (90) days before the filing of the bankruptcy; and (3) the transfer resulted in the creditor receiving more than the creditor would have received in a liquidation of the debtor's estate.

a. predetermined

b. preternatural

c. preordained

d. preferential

19. Which of the following is a correct legal conclusion regarding reorganization bankruptcy?

a. Individuals, partnerships, and corporations in business may be reorganized.

b. A plan for reorganization may be filed only by a committee of creditors.

c. When a reorganization plan is confirmed by the court, the creditors can revert back to their original position if they are not satisfied with the plan.

d. Individuals within a particular class of creditors can be treated differently if they object to the reorganization plan.